ON THE SCENE: GFI Realty Services has been named the exclusive sales agent for 615 East 17th Street in Ditmas Park August 15, 2019

GFI Realty Services has been named the exclusive sales agent for 615 East 17th Street, a six-story multifamily building comprised of sixteen units in the Ditmas Park section of Brooklyn. GFI Realty Senior Director Erik Yankelovich will oversee the marketing of the property, with pricing targeted at $8.5 million.

Constructed in 1931, the recently gut renovated building totals approximately 15,000 s/f; the property was originally three stories with three additional stories recently added to this prewar asset. The apartments are configured as five three-bedroom units, seven two-bedroom units and four studios. The asset offers numerous amenities for tenants including a gym, common roof deck and lounge. The property is near public transit, several parks and a variety of restaurants and stores located along Cortelyou Road and Newkirk Avenue.

The property will have a real estate tax exemption for fifteen years and an abatement for 20 years beginning in approximately one year, which will provide strong protection against potentially large tax increases capping the annual taxes to approximately $2,500 per year.

 

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